NO PROFIT Act

This bill would change federal tax law so that a President's net capital gains during any tax year in which they served as President are taxed at 100 percent. Assets held only in a qualified blind trust for the entire time the person serves as President are not covered. For covered assets still held at the end of such a year, the President would have to count gains or losses as if the assets were sold at fair market value on the last business day of the year. The rules would apply to tax years beginning after December 31, 2024.

Full text and official record on Congress.gov

Sponsors

• Andrea Salinas Democrat sponsor
• 0 cosponsors